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Risk management and analysis - Introduction E-mail
Without going into details regarding the theory of project risk management we present, still, the definition of this concept as it is presented by the Project Management Institute professionals who, in The Project Management Body of Knowledge Guide, [Duncan, W., R., 1996] define risk management as a systematic process of identification, analysis and response to the project risks, process comprising the risk identification, risk quantification, risk response plan, risk response control sub processes.
Depending on the author of the methodology, the name or the order of these sub processes is different. Thus, risk identification and risk quantification are sometimes taken together and are called risk assessment or risk analysis; the risk response plan is sometimes met under the name of risk mitigation plan; the risk response plan and the risk control plan are sometimes taken together under the name of risk management plan.




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